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HomeMy WebLinkAboutBoard of Water and Light Minutes 03.24.26 To Be Approved by the Board of Commissioners 05-19-2026 Not for public distribution MINUTES OF THE BOARD OF COMMISSIONERS MEETING LANSING BOARD OF WATER AND LIGHT _________________________________ March 24, 2026 ________________________________ The Board of Commissioners met at the Lansing Board of Water and Light (BWL) Headquarters- REO Town Depot located at 1201 S. Washington Ave., Lansing, MI, on Tuesday, January 28, 2025. This meeting was publicly notified for 5:30 p.m. Chairperson David Price called the meeting to order at 5:30 p.m. Corporate Secretary, Lavella J. Todd, called the roll. The following Commissioners were present: Chairperson David Price; Commissioners Beth Graham, Chris Harkins, Semone James, Tony Mullen, Dale Schrader, and Sandra Zerkle. Absent: Commissioner DeShon Leek. Corporate Secretary Lavella Todd declared a quorum. Chairperson David Price led the Pledge of Allegiance. APPROVAL OF MINUTES Motion by Commissioner Tony Mullen, Seconded by Commissioner Beth Graham to approve the Regular Board Meeting minutes of January 27, 2026. Action: Motion Carried PUBLIC COMMENT There was no public Comment. 3 COMMUNICATIONS Electronic mail from Elaine Fischoff re: Commissioners responsibility to BWL Customers. Referred to Management. Received and Placed on File. Electronic mail from Elaine Fischoff re: CAFE Lawsuit. Referred to Management. Received and Placed on File. Electronic mail from Alberta Tucker re: IBEW Union Contract approval “Thank You”. Referred to Management. Received and Placed on File. Electronic mail from Mary Patenge re: Opt-Out meter charges. Referred to Management. Received and Placed on File. Electronic mail from William Smith re: BWL customer bill. Referred to Management. Received and Placed on File. COMMITTEE REPORTS Committee of the Whole Chairperson Sandra Zerkle presented the Committee of the Whole Meeting Report: COMMITTEE OF THE WHOLE Meeting Minutes March 10, 2026 The Committee of the Whole of the Lansing Board of Water and Light (BWL) met at the BWL Headquarters-REO Town Depot located at 1201 S Washington Ave., Lansing, MI, on Tuesday, March 10, 2026. Chairperson Sandra Zerkle called the Committee of the Whole Meeting to order at 5:30 p.m. and asked the Corporate Secretary to call the roll. Present: Commissioners Semone James, DeShon Leek, Tony Mullen, David Price, Beth Graham, Dale Schrader, and Sandra Zerkle Absent: Commissioner Chris Harkins. Corporate Secretary LaVella Todd declared a quorum. 4 Public Comments There were no public comments. Approval of Minutes Motion by Commissioner Semone James, Seconded by Commissioner Beth Graham, to approve the Committee of the Whole Meeting minutes of January 13, 2026. Action: Motion carried. The minutes were approved. Retirement Plan Committee (RPC) Update Chief Financial Officer Scott Taylor presented the Retirement Plan Committee (RPC) update. The RPC Committee added a second investment manager to the Voluntary Employee Benefit Administration Plan (VEBA) to diversify risk and manage assets within the small mid-cap group. The new asset manager will have a value focus, complementing the existing growth-focused manager, Atlanta Capital. ACG narrowed down the potential new asset managers and the committee reviewed and interviewed the final two before making a decision. The contractual stage is ongoing, with documentation being reviewed and prepared for execution. The RPC Committee has reviewed an investment strategy change for the Defined Benefit Plan (DB) to a liability-driven investing strategy, which has been underway for six months. The DB plan is 116% funded and closed, making it suitable for this strategy to secure retirees' future pensions. The recommendation came from ACG, and the committee voted to bring it before the Finance Committee Meeting with a resolution proposing the change. CFO Taylor provided an Administrative Activity Update on the Defined Contribution 401(a) and Deferred Compensation 457)b) Plans and stated there was nothing new to report. He then provided an update on the Defined Benefit Plan (DB) and Voluntary Employee Benefit Administration Plan (VEBA). VEBA only- based on sufficiency of funding and investment performance, the RPC approved the FY26 Q2 reimbursement from the VEBA Plan to BWL of $2,754,326. The amount was calculated consistent with the terms of the Administrative Services Agreement (ASA). Consideration of Alternative Platform for Commissioners' Smartsheet Dashboard Commissioner Tony Mullen introduced the consideration of replacing the Smartsheet Dashboard with a platform more suitable to the Board’s needs. He expressed frustration over the functionality of the current platform and its inefficiency and suggested exploring other document management solutions. Commissioner Mullen suggested the use of Board Effect, which Assistant General Manager Heather Shawa uses on the Peckham Board. Commissioner Mullen stated that it is much easier to search for documentation, and it is much more user- 5 friendly. He suggested involving the IT department to evaluate and, if necessary, replace Smartsheet with a more effective program. Commissioner David Price supported the idea of finding a more user-friendly and affordable document management solution. Commissioner Sandra Zerkle asked the commissioners for input on who actually uses Smartsheet. Commissioner Semone James stated that she frequently uses Smartsheet. Commissioner Semone James commended Commissioner Mullen for bringing this to the committee and shared her concerns about the cumbersome nature of the current smart sheet application. Commissioner Zerkle requested that commissioners forward any questions on the potential new applications to Corporate Secretary LaVella Todd. Asst GM Shawa suggested that her team use their Gartner membership to explore potential solutions and recommendations, starting with an RFI to identify available options before moving to a full RFP. Discuss Next Review of BWL Board of Commissioners Rules of Procedure Commissioner Sandra Zerkle brought to the Board's attention that the BWL Board of Commissioners Rules of Procedure were due for review and update, in accordance with the regular two-year cycle. She also mentioned the need for updates due to the new Lansing City Charter. Commissioner Sandra Zerkle suggested sending the current Rules of Procedure out in May, with an evaluation of the changes to be made at the July meeting. Commissioner David Price supported Commissioner Zerkle’s proposed review and evaluation period and suggested involving legal counsel for their input on any necessary changes. Commissioner James suggested the Rules of Procedure be reviewed by legal counsel first, then to allow the Commissioners to review and make the changes they propose. Corporate Secretary LaVella Todd stated that Deputy General Counsel Jason Hawkins has already provided some redlines for Board review. Commissioner Zerkle confirmed that legal will review the BWL Board of Commissioners Rules of Procedure, and then in May, the Commissioners will be sent the Rules of Procedure to add any updates they request. Other Motion by Commissioner Sandra Zerkle Seconded by Commissioner Beth Graham, for excused absence for Commissioner Chris Harkins. Action: Motion Carried. Adjourn Chairperson Sandra Zerkle adjourned the meeting at 5:53 p.m. 6